Cryptocurrencies as the challenge to Governability: Public Policy of the Modern States in Different Networked and Political Administrative Contexts
DOI:
https://doi.org/10.18255/2412-6519-2018-2-88-99Keywords:
governability, policy networks, cryptocurrencies, political administrative regimes, public policyAbstract
The authors analyze the challenges to governability that appeared as a result of development of cryptocurrencies. The governability phenomenon is discussed through policy network concept. Three approaches to maintain governability are presented in the article: strong regulation, soft regulation that combines coordinative and cooperative strategies, and crucial institutional reconfiguration to “platform governance”. The empirical focus of the article covers analysis of public policy strategies in Russia, China, Brazil, Belarus, Kazakhstan, Ukraine, UK, USA, Japan, and EU. The authors suggest that the reaction of the states to maintain governability in the context of development of cryptocurrencies depends on the peculiarities of political administrative regimes.References
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